Equity CommonWealth (formerly CommonWealth REIT) invests in office and industrial properties, primarily in the US, mainly located in suburbs of major metropolitan markets. Its portfolio includes about 40 properties, the majority of which are offices, comprising some 17 million sq. ft. of leasable space. Equity CommonWealth was one of the largest industrial private land owners in Oahu until it spun off those assets in 2012; other markets include Boston, Philadelphia, Southern California, and the District of Columbia. GlaxoSmithKline and Office Depot are among the REIT's largest tenants. The REIT has been selling off certain holdings; it has unloaded more than 1 billion sq. ft. since early 2016.